VINCI - 2005 annual report

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280 VINCI 2005 ANNUAL REPORT Consolidation method VINCI group holding 2. ENERGY VINCI Energies FC 100.00 Santerne Exploitation FC 100.00 Entreprise Demouselle FC 100.00 SDEL Lorraine FC 100.00 Fournié-Grospaud SAS FC 100.00 Graniou Azur FC 100.00 Santerne Centre Est FC 100.00 Roiret Entreprises FC 100.00 GT Le Mans FC 100.00 Barillec FC 100.00 Masselin Énergie FC 100.00 SDEL Tertiaire FC 100.00 Tunzini FC 100.00 Lefort Francheteau FC 100.00 Phibor Entreprises FC 100.00 Saga Entreprises FC 100.00 Graniou Île-de-France FC 100.00 GTIE Télécoms FC 100.00 GTIE Infi FC 100.00 SDEL Infi FC 100.00 Tunzini Protection Incendie FC 100.00 Entreprise d’Électricité et d’Équipement FC 100.00 Atem (Poland) FC 80.00 Spark Iberica (Spain) FC 80.00 VINCI Energies UK (UK) FC 100.00 Emil Lundgren (Sweden) FC 100.00 VINCI Energies Netherland and its subsidiaries FC 100.00 VINCI Energies Deutschland and its subsidiaries (Controlmatic, G+H Isolierung, Calanbau, NK Networks) FC 100.00 TMS (Austria) FC 100.00 3. ROADS Eurovia FC 100.00 Eurovia Méditerranée FC 100.00 Eurovia Île-de-France FC 100.00 Eurovia Lorraine FC 100.00 Eurovia Centre Loire FC 100.00 Eurovia Dala FC 100.00 EJL Île-de-France FC 100.00 Eurovia Alpes FC 100.00 Eurovia Bretagne FC 100.00 Eurovia Poitou Charentes Limousin FC 100.00 Eurovia Alsace Franche-Comté FC 100.00 Eurovia Atlantique FC 100.00 Eurovia Aquitaine FC 100.00 Eurovia Picardie FC 100.00 EJL Nord FC 100.00 Eurovia Pas-de-Calais FC 100.00 Eurovia Haute-Normandie FC 100.00 Eurovia Basse-Normandie FC 100.00 Matériaux Routiers Franciliens FC 100.00 Eurovia Béton FC 100.00 Carrières Kléber Moreau FC 89.97 FC: full consolidation; PC: proportionate consolidation; EM: equity method.
CONSOLIDATED FINANCIAL STATEMENTS Consolidation method VINCI group holding Carrières Roy PC 50.00 Société des Carrières de Chailloué FC 100.00 Carrières de Luché FC 100.00 SSZ (Czech Republic ) FC 92.06 Ringway Ltd (UK) FC 99.55 Ringway Highway Services Ltd (UK) FC 99.55 Hubbard (USA) FC 100.00 Blythe (USA) FC 100.00 Eurovia Teerbau (Germany) FC 100.00 Eurovia VBU (Germany) FC 100.00 Eurovia Beton Und Verkehrstechnik (Germany) FC 100.00 Probisa Technología y Construcción (Spain) FC 95.67 Construction DJL (Canada) FC 95.80 ODS – Dopravni Stavby Ostrava (Czech Republic ) FC 46.95 Eurovia Industrie GmbH (Germany) FC 100.00 South West Highways (UK) PC 49.78 Bitumix (Chile) FC 50.10 Eurovia Cesty (Slovakia) FC 96.65 Caraib Moter (Martinique) FC 74.50 Boucher (Belgium) FC 100.00 Eurovia Polska Spolka Akcyjna (Poland) FC 99.90 4. CONSTRUCTION Sogea Construction FC 100.00 SICRA Île-de-France FC 100.00 Campenon Bernard Construction FC 100.00 Bateg FC 100.00 Sogea Nord-Ouest FC 100.00 Campenon Bernard Méditerranée FC 100.00 Sogea Nord FC 100.00 EMCC FC 100.00 Deschiron FC 100.00 Energilec FC 100.00 VINCI Environnement FC 100.00 GTM Construction FC 100.00 GTM Génie Civil et Services FC 100.00 GTM Bâtiment FC 100.00 Dumez Île-de-France FC 100.00 Chantiers Modernes BTP FC 100.00 Les Travaux du Midi FC 100.00 Lainé Delau FC 100.00 GTM Terrassement FC 100.00 Dumez Méditerranée FC 100.00 Petit FC 100.00 Dumez EPS FC 100.00 Scao PC 33.33 FC: full consolidation; PC: proportionate consolidation; EM: equity method. 281
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ANNUAL REPORT 2005
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EUROVIA VINCI CONSTRUCTION KEY 2005
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VINCI, the world’s leading integr
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VINCI gains new momentum With the A
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Corporate management structures BOA
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All business lines contributed to t
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Complementary business lines operat
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A growth course set by the concessi
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VINCI share price up 47% in 2005 In
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THE 2006 SHAREHOLDERS’ CALENDAR 1
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2005 Highlights Bernard Val, Chairm
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20 VINCI 2005 ANNUAL REPORT
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22 BUILDING AND MAKING A LONG-TERM
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KEY FIGURES In € millions and as
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VINCI CONCESSIONS WORLDWIDE EUROPE
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Top. ASF and Escota operate a netwo
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CONCESSIONS / ACTIVITÉ ASF recentl
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CONCESSIONS / BUSINESS REPORT 32 VI
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CONCESSIONS / BUSINESS REPORT Betwe
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A86 : DISCREET DOWN TO THE FINEST D
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The toll system of the future In Ma
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Top. Some 41,000 vehicles a day tra
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VINCI Park VINCI Park is present in
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44 VINCI 2005 ANNUAL REPORT and the
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Airport sector VINCI Concessions is
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CONSTRUCTION CONCESSIONS CONSTRUCTI
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ENERGY 51
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A leader in energy and information
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Top. For the Munich airport, German
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Acquisitions 16 companies acquired
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Top left. Design and implementation
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VINCI Energies at the Zénith conce
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ÉDITORIAL GRANIOU SUPPORTS NORTEL
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66 LEADER IN INFRASTRUCTURE CONSTRU
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KEY FIGURES In € millions and as
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EUROVIA / BUSINESS REPORT Brisk gro
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MATERIALS: A STRATEGIC FACILITY IN
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EUROVIA / BUSINESS REPORT NOxer ®
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Top left. Roadworks in the village
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EUROVIA / BUSINESS REPORT Design &
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CONSTRUCTION EUROVIA CONSTRUCTION E
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CONSTRUCTION 83
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French market leader and a world ma
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Above. The Granite tower under cons
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VINCI Construction Grands Projets
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ÉDITORIAL A BUILDING OF THE FUTURE
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The fl oating swimming pool To meet
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Civil engineering revenue +11.2 % S
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Top. Restructured so as to reduce t
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In the United Kingdom and Germany,
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101
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ÉDITORIAL Top. Standing alongside
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VINCI Immobilier will be developing
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A RESPONSIBLE GROUP 107
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Implementation of the Global Compac
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Priority areas and projects Limit t
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Commitments Guarantee the safety an
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COMBINING MOTIVATION AND SAFETY CFE
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DEVELOPING SKILLS VINCI’s trainin
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VINCI CONSTRUCTION SATISFACTION SUR
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Other social indicators A RESPONSIB
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REMUNERATION Remuneration and socia
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LEARNING TO LEARN The VINCI Foundat
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EMERGENCY AID ACTIVITIES The VINCI
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FICHE VINCI PREQUALIFICATION AND IM
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Above: Since 2005, VINCI’s approv
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A BUILDING THAT USES LESS ENERGY VI
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ISO 14001 CERTIFICATION GROWTH 2004
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IMPROVING THE ENERGY EFFICIENCY OF
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Optimising waste management VINCI c
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Above: After rehabilitation, Eurovi
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B/ NOISE POLLUTION Eurovia 2005 200
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UN GROUPE RESPONSABLE / RESPONSABIL
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Opinion of one of the Statutory Aud
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FINANCIAL STATEMENTS FINANCIAL STAT
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27. Market value of fi nancial inst
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2.1 APPOINTMENTS AND FUNCTIONS OF C
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Alain Dinin Age: 55 • 1997-2008 N
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Yves-Thibault de Silguy (suite) Wil
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The other eleven Directors are prom
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- in respect of the Company’s int
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The following table shows the Direc
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When he retired, he received €1,2
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CORPORATE GOVERNANCE Options Option
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REPORT OF THE CHAIRMAN REPORT OF TH
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3.4. INTERNAL AUDIT The internal au
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The third step, in 2003 and 2004, i
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REPORT OF THE STATUTORY AUDITORS IN
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Outside France, VINCI Energies’ r
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1.3 NET PROFIT Net profi t attribut
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The Group’s fi nancial structure
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1.3 CONCESSIONS The main risks in c
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C. INSURANCE 1. GENERAL POLICY Give
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D. OTHER INFORMATION 1. INVESTMENT
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CONSOLIDATED FINANCIAL STATEMENTS C
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CONSOLIDATED FINANCIAL STATEMENTS E
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STATEMENT OF CHANGES IN CONSOLIDATE
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2.2 EARLY REDEMPTION OF THE 2002-20
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1.1 FIRST-TIME ADOPTION OF IFRS - M
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Joint venture partnerships created
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- when borrowing is not intended to
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Cash management financial assets Ca
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- Hedge of a net investment in a fo
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1.2.2 Breakdown of revenue by locat
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FY 2004 CONSOLIDATED FINANCIAL STAT
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FY 2004 CONSOLIDATED FINANCIAL STAT
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4. SEGMENT INFORMATION BY GEOGRAPHI
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5.3 SHARE-BASED PAYMENTS The expens
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The income arising in the period fr
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E. NOTES TO THE BALANCE SHEET 10. I
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12.2 IMPAIRMENT LOSSES ON OTHER NON
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CONSOLIDATED FINANCIAL STATEMENTS 1
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15. LEASED ASSETS Property, plant a
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CONSOLIDATED FINANCIAL STATEMENTS 1
Page 233 and 234: 20. CONSTRUCTION CONTRACTS 20.1 FIN
Page 235 and 236: The changes in capital in 2005 brea
Page 237 and 238: CONSOLIDATED FINANCIAL STATEMENTS I
Page 239 and 240: CONSOLIDATED FINANCIAL STATEMENTS 2
Page 241 and 242: Changes in the period CONSOLIDATED
Page 243 and 244: 24. PROVISIONS During the period, c
Page 245 and 246: By business line, the analysis of n
Page 247 and 248: . Other bonds Other bonds break dow
Page 249 and 250: d. Finance leases The table below s
Page 251 and 252: 25.3.2 Cash and cash management fin
Page 253 and 254: CONSOLIDATED FINANCIAL STATEMENTS T
Page 255 and 256: Based on this position, a 1% increa
Page 257 and 258: 26.3.3 Analysis of other foreign cu
Page 259 and 260: 28. TRANSACTIONS WITH RELATED PARTI
Page 261 and 262: The maturities of contractual oblig
Page 263 and 264: 31. REMUNERATION AND RELATED BENEFI
Page 265 and 266: promissory notes issued by Intertou
Page 267 and 268: CONSOLIDATED FINANCIAL STATEMENTS I
Page 269 and 270: (h) Reclassification under operatin
Page 271 and 272: 1.5 SUMMARIES OF IMPACTS OF RESTATE
Page 273 and 274: 2.3.2 Goodwill CONSOLIDATED FINANCI
Page 275 and 276: 2.3.6 Fair value of derivatives CON
Page 277 and 278: 2.4 RECONCILIATION OF BALANCE SHEET
Page 279 and 280: 2.4.6 Trade and other current payab
Page 281 and 282: CONSOLIDATED FINANCIAL STATEMENTS 4
Page 283: K. MAIN CONSOLIDATED COMPANIES AT 3
Page 287 and 288: CONSOLIDATED FINANCIAL STATEMENTS R
Page 289 and 290: 1.3 OTHER FINANCIAL TRANSACTIONS Th
Page 291 and 292: 3.2 EQUITY PARENT COMPANY FINANCIAL
Page 293 and 294: 5. NET FINANCIAL DEBT The holding c
Page 295 and 296: PARENT COMPANY FINANCIAL STATEMENTS
Page 301 and 302: Meeting are determined by the Share
Page 303 and 304: 3. INFORMATION ON VINCI’S SHARE C
Page 305 and 306: 3.3 BREAKDOWN OF SHARE CAPITAL AND
Page 307 and 308: 3.5 THE VINCI SHARE AND THE STOCK M
Page 309 and 310: 3. FEES OF THE STATUTORY AUDITORS P
Page 311 and 312: 9. Operating and fi nancial review
Page 313 and 314: In accordance with Article 212-13 o
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